There have been a few interesting real estate updates as we prepare to kick off this holiday season. First, according to the Warren Group, October sales for Massachusetts single-family homes rose nearly 19% on a year-to-year comparison basis.
Meanwhile, back at the raised ranch, inventory of single-family homes for sale as of Oct. 31 was down 19.9% from October 2012.
However, the number of new listings added to the market of single-family homes in October increased to nearly 11% percent over the same time last year. That means roughly 600 homes hit the market last month compared to October 2012.
So what do all of these percentages boil down to? No small potatoes (mashed or otherwise) for one thing.
It means that home sales have kept a brisk pace due to buyer demand. And while inventory levels have remained low (20 straight months of inventory decreases as of October) more sellers are in fact heeding the call to take advantage of low interest rates and rising home prices.
The gravy of the real estate market is not without lumps, but as sellers get back in the game, the supply/demand discrepancy it starting to show some initial signs of leveling out.
And for this, we should all be thankful.
*image via: Microsoft